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Defense Modernization

Defense modernization covers the rearmament and technology refresh underway as governments raise military budgets and restock depleted inventories. Contracts are long, funded, and relatively insensitive to the economic cycle.

163 stocks

Defense Tech & C4ISR Drones & Counter-Drone Military Shipbuilding Munitions Restocking

#	Name	Holding	Trade Value	Theme Stocks	% of Portfolio	Status
26	TCI Fund Management London, United Kingdom	$7.66B	-$1.67B	1	18.72%	Reduced
27	Nuveen Charlotte, North Carolina	$7.47B	-$68.2M	66	2.18%	Reduced
28	Goldman Sachs New York	$7.14B	-$48.5M	69	1.21%	Reduced
29	Dodge & Cox San Francisco, California	$6.72B	-$946M	5	4.04%	Reduced
30	Principal Financial Group Des Moines, Iowa	$6.66B	-$390M	52	3.96%	Reduced
31	Royal Bank of Canada Toronto, Ontario, Canada	$6.53B	-$102M	96	1.49%	Reduced
32	Legal & General Group London, United Kingdom	$6.14B	-$176M	66	1.73%	Reduced
33	UBS Group Zurich, Switzerland	$5.49B	-$23.2M	102	1.36%	Reduced
34	UBS AM Chicago, Illinois	$5.26B	+$1.13B	53	1.51%	Increased
35	T. Rowe Price Investment Management Baltimore, Maryland	$5.16B	+$21.9M	16	3.26%	Increased
36	Aristotle Capital Management Los Angeles, California	$4.98B	-$90.9M	6	9.64%	Reduced
37	Boston Partners Boston, Massachusetts	$3.82B	+$61.8M	22	4.75%	Increased
38	Barclays London, United Kingdom	$3.71B	-$646M	73	1.13%	Reduced
39	Loomis, Sayles & Company Boston, Massachusetts	$3.58B	+$301M	26	4.93%	Increased
40	AllianceBernstein Nashville, Tennessee	$3.53B	+$58.9M	63	1.23%	Increased
41	California Public Employees Retirement System Sacramento, California	$3.39B	-$356M	31	2.49%	Reduced
42	Swiss National Bank Zurich, Switzerland	$3.3B	-$202M	51	2.27%	Reduced
43	Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$3.3B	-$273M	32	2.44%	Reduced
44	Sanders Capital West Palm Beach, Florida	$3.29B	-$31.2M	3	5.04%	Reduced
45	Fisher Asset Management Camas, Washington	$3.12B	+$943M	22	1.36%	Increased
46	Millennium Management New York	$3.06B	+$290M	70	1.42%	Increased
47	Envestnet Asset Management Chicago, Illinois	$2.91B	+$226M	56	1.01%	Increased
48	Deutsche Bank Frankfurt Am Main Ge, Germany	$2.81B	+$42.1M	63	1.27%	Increased
49	Janus Henderson Group London,	$2.77B	-$88.5M	51	1.49%	Reduced
50	ClearBridge Investments New York	$2.69B	-$76.4M	16	2.18%	Reduced